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We Are The 1%

  • #61
  • Dec 13, 2011 4:12pm Dec 13, 2011 4:12pm
not to spoil the fun but if you're above 0 in profits long term you are in the top 3%.

first 6 months -> <20%
first year -> <10%
first 2 years -> <3~5%
longer -> <3%

something like that, several papers on that on the Internet
  • #62
  • Dec 13, 2011 5:11pm Dec 13, 2011 5:11pm
Quoting Rikers
not to spoil the fun but if you're above 0 in profits long term you are in the top 3%.

first 6 months -> <20%
first year -> <10%
first 2 years -> <3~5%
longer -> <3%

something like that, several papers on that on the Internet
Interesting stats, thanks for sharing.

Logically, the longer one trades, the more proficient one becomes at trading.

Hence what your stats suggest to me is that less than 3% learn how to trade profitably within 2 years, while the rest survive as long as they do fortuitously. In other words, a couple of years' worth of changing markets is needed to separate the skilled from the lucky. It's also possible that 2 years provides enough time for martingales and other flaky MM systems to implode.
  • #63
  • Dec 13, 2011 5:15pm Dec 13, 2011 5:15pm
Quoting PoundTrader
we all know 99% of forex traders fail, how would you feel if the 99% ask you to share your system so they can join the 1%?
I was in the 1% for about 3 months now squarely back with the 99%.

scfx
The best indicator is price.
  • #64
  • Dec 13, 2011 5:22pm Dec 13, 2011 5:22pm
Quoting PoundTrader
we all know 99% of forex traders fail, how would you feel if the 99% ask you to share your system so they can join the 1%?
I have no doubt your a very successful trader .. but you sound like a smarmy b....x!!


what goes around etc, etc....
  • #65
  • Dec 14, 2011 9:24pm Dec 14, 2011 9:24pm
Quoting oconnor365
I have no doubt your a very successful trader .. but you sound like a smarmy b....x!!


what goes around etc, etc....
  • #66
  • Dec 14, 2011 9:38pm Dec 14, 2011 9:38pm
I just use the 13sma/10rsi daily chart method which has been around for decades (at least the 13sma bit).
A google search will find a few discussions on it including this one - http://www.forexfactory.com/showthread.php?t=303633

It's hard to go wrong with this.
  • #67
  • Dec 14, 2011 10:47pm Dec 14, 2011 10:47pm
So, are there many of those 1% roaming around FF?
  • #68
  • Dec 14, 2011 10:53pm Dec 14, 2011 10:53pm
Quoting Schminner
So, are there many of those 1% roaming around FF?
who knows who's telling the truth
  • #69
  • Dec 14, 2011 11:05pm Dec 14, 2011 11:05pm
The title should be changed to the bragging thread

Meanwhile i'll keep myself shut up, sorry for the intermission.
Traders are smartasses
  • #70
  • Dec 14, 2011 11:20pm Dec 14, 2011 11:20pm
Quoting Spsantos
The title should be changed to the bragging thread

Meanwhile i'll keep myself shut up, sorry for the intermission.
so why post, if your gonna shut up just do it and don't post
  • #71
  • Dec 14, 2011 11:23pm Dec 14, 2011 11:23pm
Attached Image


No, I'm not. Ask me again in 15 years.
  • #72
  • Dec 14, 2011 11:29pm Dec 14, 2011 11:29pm
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
Quoting the redlion
i do not know what approach you take to the markets but from my experience, embracing that we cannot accurately forecast, and that we have to deal with the unpredictability of price is the secret.


the market is not a puzzle that once you figure it out it becomes an ATM

it is simple

unpredictable
not random

work with that

"unpredictable, not random" Is great!
  • #73
  • Dec 18, 2011 4:52am Dec 18, 2011 4:52am
Quoting normfx
Same thing goes for IBFX ..those stats are only for 90 days..after 6 mo's the number jumps to 90% losers, but they won't tell you the truth about that..and after 2 yrs 99% lose..after 5 yrs...Its pure logic..if 70% lose in 90 days, 90% will lose in 120 days..to think otherwise is illogical.

Ever wonder why guys open brokerage firms? They'll tell you they're master traders. They must love to deal with the millions of questions and complaints from newbie's..why don't they just hire their best traders and close shop and trade for a living lol....
Nice entry point, no need for the stop IMO
Come with me if you want to live....
  • #74
  • Dec 18, 2011 4:55am Dec 18, 2011 4:55am
Quoting oconnor365
I have no doubt your a very successful trader .. but you sound like a smarmy b....x!!


what goes around etc, etc....
Waste of time, he doesn't care my friend
Come with me if you want to live....
  • #75
  • Dec 18, 2011 4:57am Dec 18, 2011 4:57am
Quoting RBlackburn
^
This chick is hot!
Come with me if you want to live....
  • #76
  • Dec 18, 2011 5:13am Dec 18, 2011 5:13am
Quoting PoundTrader
yes go with the trend if you can figure out if there's a trend or not
. and particularly when the trend is about to end.
Come with me if you want to live....
  • #77
  • Dec 18, 2011 5:23am Dec 18, 2011 5:23am
Quoting 4exNinja
I work fulltime in real estate investment, and officially joined the top 1% this year...but in spirit, I'm with the 99%. It's not right that Wall Street uses politicians as sock puppets to rig the game, just like it's not right that the defence lobby does the same to get the US into expensive wars that only profit them.
I have long suspected that Forex is totally rigged. I find it fascinating that bullish/bearish rumours come out at technically important levels, even absurd bits of news that would make you laugh if a friend told you about it. We are expected to believe these VIPS are stupid. I am curious if market forecasters are privy to this evil deception. I feel news, rumours etc are designed to distract investors from reading ( and more importantly trusting) the technical language of their charts. Once it is figured out, the profits are endless.
Come with me if you want to live....
  • #78
  • Dec 18, 2011 6:15am Dec 18, 2011 6:15am
I trade PA of supply demand zones, with combinations of cycles and gann angles, and a little VSA.
not really a system u can compile into indicators, but i do use a few to help me INDICATE, not give me a decision to trade.
i personally love Williams % range, and of course for VSA i need volumes indicator. williams % range with a certain period can give a heads up to trend change. pricce being oversold within the indicator itself is 75%+ u will experience DD. its like a divergence sort of heads up to exit the market and look for opposite entries.

besides that everything else is drawing.

about cycles its a matter of not predicting the future , but reacting well when the time has come for a possible change in price. PA helps me wiht analyzing order flow. volume helps a lot too, still learning this and will continue to learn all aspects of my works.

im just a noob. i believe i am in the 1% and i believe i am on the right paath. i make 1% target a day sometimes more, but sometimes also give back to market due to overtrading and emotions making decisions. overall statisitcs, i feel better trading on logic (duh obviosuly)

i somewhat agreee to poundtrader and disagree. i believe we can show methods and give knowledge but NOT works.

hers a trade i took last week on Aussie.
Attached Image (click to enlarge)
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Have I got something on my face, SOLDIER?
  • #79
  • Dec 18, 2011 6:17am Dec 18, 2011 6:17am
Occupy 1%?
  • #80
  • Dec 18, 2011 9:34am Dec 18, 2011 9:34am
there is no secret formula, there is no special combination of secret ingredients that will make you profitable, its mostly MM and psychology, a good discplined trader can make money with any system that works.

and thats all you need to know.

i spent 4 years trying to look for that special combination, which doesnt exist. now i am on the right path for the past year.

this thread is trying to discourage and de-rail newbies and leading them to believe that a secret formula exists

what a load of horse shit.
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